Standard Chartered Malaysia and Standard Chartered Saadiq Malaysia has announced the company will continue to provide financial support to clients affected by the pandemic through its Targeted Repayment and Payment Assistance (TRA) Programme.
Individuals and businesses affected by the programme will be able to pick flexible repayment alternatives as well as loan and financing extensions from the Bank.
Abrar A. Anwar, Managing Director and Chief Executive Officer of Standard Chartered Malaysia said, “This is a hard time for many in Malaysia and around the world. Our pandemic-ravaged economy means a great number of people and businesses are in urgent need of financial assistance to stay afloat. More than ever, it is crucial that we channel help to where it is needed most by buoying cash-strapped businesses, provide liquidity to financial markets and aid people suffering from loss of income.
Catering to different client segments, the TRA Programme covers a wide range of financial assistance ranging from personal financing, residential and commercial mortgage, business loans to trade financing facilities.
The recipient who eligible for the programme includes individuals who had suffered a loss of employment and/or a reduction in income (applicable to the B40, M40 and T20 groups, registered recipients of the Bantuan Sara Hidup or Bantuan Prihatin Rakyat as well as microenterprise companies.
It also extends the aid for businesses that are not allowed to operate during the Full Movement Control Order As at December 2020, approximately 90 percent of Standard Chartered’s borrowers have resumed payment, a strong indication signalling the recovery of the Malaysian economy.
“Nursing individuals and businesses back to recovery are crucial to getting our nation back to health. This will involve the active participation and support from various institutions and community to complement the government’s ongoing efforts to jumpstart an ailing economy.As the country’s first Bank, our role as a financial services provider is crucial in easing our clients’ financial woes. Our advisory support and digital capabilities have enabled our clients to enjoy uninterrupted banking with us. We are committed to doing good and stand with Malaysians to navigate through this challenging time,” he added.